Note 9. Intangible Assets

3 Months Ended

Nov. 30, 2011

Intangible Assets Disclosure [Text Block]

9. INTANGIBLE ASSETS

FactSet’s identifiable intangible assets consist of acquired content databases, client relationships, software technology, non-compete agreements and trade names resulting from previous acquisitions, which have been fully integrated into the Company’s operations. The weighted average useful life of all acquired intangible assets is 12.0 years at November 30, 2011.

The Company amortizes intangible assets over their estimated useful lives. Amortizable intangible assets are tested for impairment based on undiscounted cash flows, and, if impaired, written down to fair value based on either discounted cash flows or appraised values. No impairment of intangible assets has been identified during any of the periods presented. These intangible assets have no assigned residual values.

The gross carrying amounts and accumulated amortization totals related to the Company’s identifiable intangible assets are as follows (in thousands):

At November 30, 2011	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	50,614	$	17,318	$	33,297
Client relationships		20,665		12,978		7,687
Software technology		18,795		18,119		676
Non-compete agreements		1,750		525		1,225
Trade names		572		379		192
Total	$	92,396	$	49,319	$	43,077

At August 31, 2011	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Data content	$	52,438	$	16,849	$	35,589
Client relationships		21,088		12,782		8,306
Software technology		19,093		18,222		871
Non-compete agreements		1,750		437		1,313
Trade names		572		341		231
Total	$	94,941	$	48,631	$	46,310

There were no intangible assets acquired during the first quarter of fiscal 2012. The increase in the gross carrying amount of intangible assets at November 30, 2011 as compared to August 31, 2011 was due to foreign currency translations.

Amortization expense recorded for intangible assets was $1.9 million and $2.2 million for the three months ended November 30, 2011 and 2010, respectively. As of November 30, 2011, estimated intangible asset amortization expense for each of the next five years and thereafter are as follows (in thousands):

Fiscal Year	Estimated Amortization Expense
2012	$	5,437
2013		5,816
2014		4,739
2015		4,037
2016		2,545
Thereafter		20,503
Total	$	43,077